Bursa Malaysia starts lower as KLCI drops 6.21 points
Early trading saw 293 counters decline and 125 advance, with turnover valued at RM130.24 million.
Bursa Malaysia opened weaker on Oct 13 following mixed overnight trading on Wall Street. By 9.10 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) had fallen to 1,611.80, a drop of 6.21 points, or 0.38 per cent, against the previous closing level of 1,618.01.
The opening reading was 1,616.62, down 1.39 points. Trading volume totalled 263.66 million units, valued at RM130.24 million. Declines affected 293 counters, compared with 125 advances; 274 were unchanged, 2,134 had yet to trade and 21 were suspended.
Malacca Securities expects geopolitical uncertainty and a rebound in oil prices to sustain caution among local investors. The brokerage said investors were likely to favour selected stocks that could benefit from Budget 2027, while it remained positive on construction companies.
The brokerage pointed to higher oil prices following an attack on Riyadh’s international airport, the approaching US third-quarter earnings season and concerns about AI technology stocks. It also cited stretched valuations and rising AI financing costs.
Heavyweight PPB traded at RM9.10, up six sen. Petronas Chemicals gained two sen, reaching RM4.27, and Maybank’s one-sen advance took it to RM9.96. Nestle held steady at RM91.10, whereas IOI Corporation dropped one sen, trading at RM4.56.
Among other movers, Critical rose 10 sen, reaching RM2.85, while Hengyuan Refining gained eight sen, trading at RM3.63. Malaysian Pacific declined 34 sen, trading at RM42.68, and PJ Bumi’s 34-sen fall took it to RM3.96.
